Including this sale of 2,950 acres, the company has
closed a total of $34.6 million in land sales in fiscal 2026.
FORT MYERS, Fla. (January 15, 2026) – On January 15, Alico announced the completion of a large grove sale representing approximately 2,950 acres and significant progress in its plans to generate cashflow from its agricultural assets, further advancing its strategic transformation from traditional citrus operations to a diversified land company.
The Company closed on the sale of a large citrus grove in Hendry County representing approximately 2,950 acres for $26.8 million in gross proceeds, marking another milestone in its land monetization strategy. Combined with previously announced transactions completed in early fiscal year 2026, including the sale of 579 acres of citrus land for $6.1 million in gross proceeds and the Company’s office and shop facility in Frostproof for $1.7 million in gross proceeds, these transactions demonstrate continued execution of Alico’s strategic repositioning and mark $34.6 million in transactions in fiscal calendar year 2026.
Following the signing of new lease agreements this month, Alico has now achieved 97% utilization of its approximately 32,500 farmable agricultural acreage. The Company’s land management programs now include fee-generating or revenue-sharing agreements with citrus growers, cattle operators, mining operators, sugarcane producers, and sod farming and leasing. These programs have created diversified revenue streams that reduce operational complexity while maintaining productive agricultural use of the land. Approximately 89% of Alico’s approximately 46,000 total agricultural acres are now utilized.
“These land sales represent the successful continuation of our strategic transformation that began in fiscal year 2025, demonstrating our ability to unlock substantial value from our land portfolio,” said John Kiernan, President and CEO of Alico. “Equally significant is our utilization of 97% of our farmable land, which continues to demonstrate our commitment to remain part of the Florida agricultural community. Last year we promised to optimize our land holdings for diversified agricultural operations, while pursuing certain land development plans. Those land development projects are each proceeding within our expectations.
With the agricultural revenue generation component of our strategic framework now substantially in place, combined with our recent land transactions and solid balance sheet, we believe that Alico is well positioned as we begin fiscal year 2026 with enhanced financial flexibility that enables us to focus resources and attention on advancing our high value strategic development opportunities.”
Total debt as of September 30, 2025, was $85.5 million, compared to $92.1 million at the end of fiscal year 2024. Debt levels as of September 30, 2025, less $38.1 million of cash on hand, resulted in a net debt position of $47.4 million at the end of fiscal year 2025, representing a significant improvement in the Company’s financial flexibility.
The Company’s strengthened balance sheet, combined with proceeds from land sales and agricultural leasing revenue, provides substantial liquidity to advance development projects while maintaining operational efficiency. In April 2025, the Alico, Inc. Board of Directors authorized the buyback of up to $50 million of Alico’s common stock, with the program set to expire on April 1, 2028. As previously discussed, the Board of Directors continues to evaluate options to return capital to shareholders, consistent with Alico’s long-standing commitment to shareholder value creation.
Provided by Alico